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payday loans with prepaid card

Feds Plan Cash Advance ‘Debt Trap’ Crackdown

Regulators prepare brand brand new rules about pay day loans

The authorities announced Thursday brand brand new intends to split down on pay day loans and tighten defenses when it comes to low-income borrowers who rely on them.

Meant being a short-term method to get free from economic jam, the customer Financial Protection Bureau (CFPB) claims pay day loans may become –≤–ā—ödebt traps–≤–ā—ú that harm many people around the world.

The proposals being revealed would connect with different loans that are small-dollar including payday advances, car name loans and deposit advance services and products. (m√°s…)

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